Book Description
Expert instruction on the practical applications of candlestick charting
Candlestick charting is more popular than ever before, with a legion of new traders and investors being introduced to the concept by some of today’s hottest investment gurus. Having introduced the candlestick technique to the West through two of his bestselling books, Steve Nison is regarded as a luminary in the field of candlestick charting. In his new venture, The Candlestick Course, Nison explains patterns of varying complexity and tests the reader’s knowledge with quizzes, Q&As, and intensive examples. In accessible and easy-to-understand language, this book offers expert instruction on the practical applications of candlestick charting to give every level of investor a complete understanding of this proven, profitable, and time-tested investing technique. Straightforward answers quickly clarify this easy-to-use charting method. This guide will allow readers to recognize and implement various candlestick patterns and lines in today’s real-world trading environment–giving them a noticeable edge in their trading activities
Download Description
Expert instruction on the practical applications of candlestick charting
Candlestick charting is more popular than ever before, with a legion of new traders and investors being introduced to the concept by some of today’s hottest investment gurus. Having introduced the candlestick technique to the West through two of his bestselling books, Steve Nison is regarded as a luminary in the field of candlestick charting. In his new venture, The Candlestick Course, Nison explains patterns of varying complexity and tests the reader’s knowledge with quizzes, Q&As, and intensive examples. In accessible and easy-to-understand language, this book offers expert instruction on the practical applications of candlestick charting to give every level of investor a complete understanding of this proven, profitable, and time-tested investing technique. Straightforward answers quickly clarify this easy-to-use charting method. This guide will allow readers to recognize and implement various candlestick patterns and lines in today’s real-world trading environment–giving them a noticeable edge in their trading activities
Customer Reviews:
Candlestick course.......2007-09-21
This book will improve your candlestick skills and help improve your trading success if combined with other indicators. The book is really like a textbook with questions and tests after each chapter so if you are expecting a spoonfeeding course then you might be disappointed because you have to do some homework and really practice with this book.
Candlestick Theory.......2007-09-11
Nison provides an indepth understanding of the Japanese Candlestick Theory that is easy to understand and presented in a way that you are sure to comprehend.
great start for newbies.......2007-06-27
Since I becmae interested in trading stocks in October of 2006 this was the first book that I purchased dealing with technical analysis and charts. I could not be more happy with my choice. The quizes at the end of each chapter help to cement the new information into your memory. Even though my strategies have "evolved" beyond looking through charts solely for candlestick patterns, they are still an invaluable tool and can provide great insight. I highly recommend this book.
Very Comprehensive in a Text Format.......2007-02-13
I really liked the fact that this was in a text format with questions as well as answers provided. The title says "Course" and I believe that is exactly what it is. It provides a lot of detail in such a short span of just over 200 pages. The question and answer format really helps to cement the content. As other reviewers have indicated, there was a lot of page turning back and forth to find the right chart to go with the right question but there are plenty of charts to support the material provided. I found it was just what I was looking for as a formal introduction to candlesticks from someone definitely in the know.
Happy trading!
This is a great book.......2006-10-01
This is a great book for one person - Steve Nison. :)
Amazon.com
To "sell short" on Wall Street, an investor finds overpriced stocks and then deals them before actually buying them. Regularly falling in and out of favor, the discipline remains one of the financial market's highest-risks but most profitable practices. The Art of Short Selling by Kathryn Staley, an expert in the field, uses examples and instructions to show how it can be done successfully--while cautioning that it "is not for the faint of heart."
Book Description
A one-of-a-kind book that shows you how to cash in on the latest investing trendâshort selling
"The Art of Short Selling is the best description of this difficult technique."âJohn Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters
"Kathryn Staley has done a masterful job explaining the highly specialized art of short selling. Her approach to telling the true stories of famous investment 'scams' will keep the reader spellbound, while teaching the investor many crucial lessons."âDavid W. Tice, Portfolio Manager, Prudent Bear Fund
"Selling short is still a misunderstood discipline, but even the most raging bull needs to know this valuable technique to master the ever-changing markets."âJim Rogers, author, Investment Biker
On the investment playing field, there is perhaps no game more exciting than short selling. With the right moves, it can yield high returns; one misstep, however, can have disastrous consequences. Despite the risk, a growing number of players are anteing up, sparked in part by success stories such as that of George Soros and the billions he netted by short selling the British pound. In The Art of Short Selling, Kathryn Staley, an expert in the field, examines the essentials of this important investment vehicle, providing a comprehensive game plan with which you can effectively playâand winâthe short selling game.
Whether used as a means of hedging bets, decreasing the volatility of total returns, or improving returns, short selling must be handled with careâand with the right know-how. As Staley points out, "Short selling is not for the faint of heart. If a stock moves against the position holder, the effect on a portfolio and net worth can be devastating. Investors need to understand the impact on their accounts as well as the consequences of getting bought in before they indulge in short selling." The Art of Short Selling guides youâclearly and conciselyâthrough the ins and outs of this high-risk, high-stakes game.
The firstâand most importantâmove in selling short is to identify flaws in a business before its share prices drop. To help you tackle this key step, Staley shows you how to evaluate company financial statements and balance sheets, make sense of return ratios, detect inconsistencies in inventory, and analyze the statement of cash flows. Through real-world examples that illustrate the shorting of bubble, high multiple growth, and theme stocks, you'll proceed step by step through the complete process and learn to carry out all the essentials for a successful short sell, including quantifying the risk factor and orchestrating correct timing, as well as implementing advanced valuation techniques to execute the sell/buy.
Packed with landmark, cutting-edge examples, up-to-the-minute guidelines, and pertinent regulations, The Art of Short Selling is a timely and comprehensive reference that arms you with the necessary tools to make a prepared and confident entrance onto the short selling playing field.
Customer Reviews:
Dated and uninformative.......2006-08-16
This book will not be useful to most readers. Staley touts shorting-hedge-fund managers and similar folk who can hire investigators and who can delegate maniacally-intensive accounting & financials research. This book also suffers from being highly specific in detailing financial irregularities of companies forgotten in light of the stupendous failures of Worldcom, Enron etc. Finally, if you actually want to short securities, don't expect this book to help you.
Go Long This Book.......2006-01-27
Chapter Six of Kathryn F. Staley's excellent book is titled, "If You Can't Read It, Short It." In it she explains something called iceberg phenomena: "If you find five or six serious questions in financial statements, you can be sure that there are many more you cannot see." She's dead right.
My analysis is to go long this well-written (but very poorly proofread) introduction to the specialized realm of shorting equities. Ms Staley has chosen a style well-suited to the non-expert, rather breezily taking the reader through the balance sheet shenanigans, distribution channel stuffing and other tricks CEOs and corporate directors use to puff up share price and get option grants into the money before taking the next Gulfsteam outta Dodge.
The book is chock-full of entertaining examples of games CEOs and their pliant Boards try to play with shareholders' money. Don't let Ms Staley's light-hearted style fool you. This is very serious business, and she's got years of success in the trenches to bolster her credibility as a writer on this topic.
Reading The Art of Short Selling also reminds even experienced practitioners of financial statement analysis that a 1OK is often an attempt to put a wedding dress on a dog in order to pretty it up for the next financing. I feel obliged to point out that this review is being written during earnings season, and it never ceases to amaze one when supposedly objective analysts are heard on conference calls being cheerleaders for company managements obviously in need of good thrashing.
Kathryn Staley is not unknown to the community of financial analysts. She was profiled as being among the most innovative of analysts in a recent issue of CFA Magazine. To understand the nature of the book she has written, it will be helpful to share two of her quotes from that article:
"...a company's prospectus clearly showed the problems that would ensue with the business plan. It was revelatory for me to find such specific, honest information in the SEC-filed documents about what was going on with a company in both the risk factor section and 'Certain Transactions.'"
"Short sellers think differently from normal brokerage house stock analysts. They work the same numbers but take a different view, a jaundiced view, of growth and the patterns that emerge."
With its focus on the fundamentals of a stock, the business of a company and the manner it which it reports financial results, The Art of Short Selling is not a book on technical analysis (tea-leaf ~ oh, pardon me ~ chart reading), and thus those who have complained that it's not should have their reviews appropriately discounted by potential purchasers.
This is a book for people who want to dig line-by-line through SEC filings to come up with nuggets of knowledge that can be spun into gold ~ if one is willing to risk capital. And, ultimately, it is all about the degree of risk exposure one is willing to assume. Short selling is not for the risk-averse.
Kathryn F. Staley's, The Art of Short Selling, is the best introduction to this iconoclastic field of equities investing. I reiterate, go long this book.
One criticism: this book is hideously proofread and copy-edited. There are dozens of ludicrous spelling errors and inconsistancies. In example, abbreviations aren't uniform throughout the text. There are other errors of this kind. To not make corrections in future editions discounts the future value of the knowledge between the covers. Thus, four stars, not five.
Focus on fundamentals.......2005-06-03
Anecdotes and successful short stories rule this book. If you are a technical trader you will be disappointed since 'The Art of Short Selling' choses which stocks to short based on (primarily) the financials.
I was rather disappointed because it took until alomst the last chapter before the 'meat' of how to pick stocks for shorting was discussed. Even then it only briefly discusses which aspects of the financial statements one should look out for.
If you do not understand how to read a balance sheet, statement of cash flow etc, you are better off understanding those before reading this.
However, the various examples given are insightful and would suggest to me that what has happened in the past will inevitably happen again in the future. There are profits to be made! You'd just have to know where to look.
A Skeptics guide to Fundamental Analysis.......2003-04-26
I came across this book years ago in a bookstore, browsed through it, and put it away. Being caught up in the study of technical analysis at the time, I clearly wasn't ready at the time to find value (pun intended) in Staley's fundamental approach to the market. This time, however, I'm listening to her.
With a bit more experience, I can appreciate 3 of the many lessons _The Art of Short Selling_ teaches:
1) Fundamentals drive market action...eventually
2) It is often a costly mistake to short a stock simply because it apepars overvalued. A catalyst of some sort is needed to encourage massive selling.
3) Markets can ignore negative fundamentals for significantly extended periods of time--giving the astute trader ample time to sell at a profit, or even turn and sell short. Positive fundamentals are more rapidly incorporated into stock prices, but significant inefficiencies still exist on both sides of the market--long and short.
The author uses case histories of significant corporate failures from the 80's and early 90's in light of the publicly available info at that time, which clearly demonstrated the inivetable fall of Wall Street's institutional favorites.
Numerous fundamental techniques are discussed, such as tracking changes in inventory and receivables, as well as tricks companies play to make revenues and earnings appear better than they are.
Also interesting--a high short interest ratio in a stock is often a significant sign of potential trouble in a company. Do not let those analysts lead you to believe a high short interest ratio is always bullish. Check the fundamentals and make your own call.
Qualitative factors are also discussed, with specific examples on how a close reading of public financial data on one company would have lead you to a profitable short sale of another. This occurs frequently in the finance and insurance industries.
This book is especially important, because every book I've seen teaches which stocks to BUY on a fundamental basis. No book ever mentions what fundamental factors suggest you SELL. Even if you never sell short, this is profitable info.
Being a student of technical analysis, what struck me is the insight those skeptical shorts had about the companies mentioned. Clearly, they knew the eventual outcome in each specific instance.
Yet, despite being right, most of these guys lost millions by going strictly by fundamentals. Those who survived incorporated additional (ie. technical) factors, such as relative strength or momentum. As Keynes stated, "The market can remain irrational much longer than you can remain solvent."
It is clear to me that using both fundamental and technical analysis is the most efficient path to market profits.
disappointing,it is not helpful for short selling at all........2002-09-21
This book is'nt introductuction and rationale to the technical approach.
Book Description
The sequel to the best-selling Adweek book, Disruption, this book shows the wider application of the concept as it affects vision, strategy, creativity and media marketing. Jean Marie-Dru describes disruption as a universal language of change that allows advertisers from all over the world to form a common strategy. In this book, Dru explores the wide-reaching ramifications of disruption: for instance, how disruption can be seen at work in emerging, rebellious or unreceptive markets; how disruption can transform vision into insight; how disruption can affect communication and lead to cross-fertilization of ideas; how disruption relates to design; examples of disruptive companies and campaigns; and how disruption can lead to connectedness.
Customer Reviews:
Great insight into TBWA/Chiat/Day's strategy.......2007-07-11
Hving read the first book "Disruption", I'm glad that Jean Marie Dru has decided to compile case studies on how Disruption works in the market place with this new book. I also liked the fact that he invited prominent people in the TBWA family to write about disruption in their markets (they even have a section on Asian Markets). This book is a great book for anyone going into the world of advertising. It helped me as student to improve my creative thinking and the way I think about strategy! Now that I'm in the business, I actually occasionally refer to this book when I'm stuck on something.
To me, I feel Disruption and Beyond Disruption are the "Hey Whipple" books for Strategy and should be an inspiration to anyone who works on the strategy side of the business.
Challenging Convention To Locate & Exploit Its Failings.......2006-11-07
You need this book and a little disruption if you:
1. Have lost your role as the center of category value
2. Are relying on deals and costly promotions
3. Are feeling invincible
4. Competitor's products are flying off of the shelves
5. Competitor's customers are more active than yours
6. Your customers of today looks exactly like your customers of yesterday
7. Or, you can't articulate a clear vision of your future.
With the proliferation of similar products it takes a disruptive approach to get a customer's attention. You must get into their heart, under their skin and make news! This has been shown to be highly beneficial in marketing. It has recently been shown that 'disruption' is beneficial anywhere where convetion has strongly taken root.
There are three consecutive themes that Jean-Marie Dru offers as a plan to keep up the necessary innovation. They are:
1. Study, observe and list what is considered conventional in your field.
2. Challenge these conventions with new ideas
3. Visioneering - envision and act upon the most possible and exciting ideas.
Many, many examples are given throughout the book using companies that we are all familiar with. Included is an outline of how to carry out your own disruption workshops to create positive change.
5 Stars
Superb for reminding us all to hold onto our own creativity!.......2002-11-19
I truly and thoroughly enjoyed this book! It reminded me what it was that got me into this line of work in the first place. This book focuses the reader on using creativity to look at the world in a different manner, and create truly differentiable advantage thereby, and the energy and excitement that I took from it were absolutely wonderful.The book is team-written by a series of folks at TBWA\, (one of the largest ad agencies in the world) and there are definite portions of the book that are only of value to people outside of the ad world in dealing with folks inside, (most notably, the entire third section of the book, which you can honestly skip) and there are some chapters written by Dru's team that contradict some of his basic tenets, but don't let either of these put you off. The case studies, base lessons and some of the discussions about methodologies are highly portable, and certainly can lead to a strong and very valuable transformation in your practices and company, if taken to heart.It will focus you and your co-workers on defining and fulfilling the grandeur of the mission you're on, (regardless of industry or product segment) with the benefits accruing in direct proportion to how widely you can introduce this mindset and maintain the excitement, (much of it self-perpetuating) to your environment.And one very cute suggestion that has immediate value to us all: a company was having a very difficult time with actual output not being achieved due to both the quantity and time span of meetings, (sound familiar?). Dru and his team's suggestion, which was implemented to great success? Remove all chairs from the conference room. Imagine how quickly meetings can be over if everyone has to stand during the entire discussion!
Simply Stated: A Great Book!.......2002-09-27
Dru successfully outlines the creation, development and deployment of 'disruptive' marketing strategies used on some of today's most successful brands including Apple and Absolute. In addition, he helps you get an understanding of why disruptive thinking is important, and in many cases, essential for the everyday entrepreneur. The visuals in the book certainly help and the well-organized structure of the content makes for a good read. Advertising and marketing folks, you won't be let down.
Beyond Disruption really goes beyond Dru's first book.......2002-05-12
This book is valuable because [finally] there are case histories of how Dru's Disruption theory actually works in the marketplace.
Dru wrote intro and then drew on his network of TBWA offices to report on how they've been successfully applying this dramatic communication theory for clients over last half decade. If you're interested in how to get your advertising and marketing to be heard and absorbed by the consumer, it's worth a read.
Andrew Jaffe, Adweek Books
Book Description
One of the key determinants of success for today’s high-technology companies is product strategy—and this guide continues to be the only book on product strategy written specifically for the 21st century high-tech industry. More than 250 examples from technological leaders including IBM, Compaq, and Apple—plus a new focus on growth strategies and on Internet businesses—define how high-tech companies can use product strategy and product platform strategy for competitiveness, profitability, and growth in the Internet age.
Customer Reviews:
very good - lots of examples.......2007-01-19
the Core Strategic Vision approach for determining strategy is interesting, and is a good framework to develop a realistic vision.
The boundaries test to determine whether your vision will deliver what you expect (it forces you to expect something!) is something companies can't forget.
And the vision of a set of product's as not only one offering, but as one containing a platform and its pre-planned offerings, with pricing strategy, is essential to get profits for a long time.
It is full with examples, specially from the software arena. Recommended.
Comprehensive coverage.......2006-03-12
This book offers a study of the strategic options for high tech firms. The coverage is wide and detailed. This is a great book.
A first approach to Product Strategy.......2006-01-31
A big number of business examples, and good explanation of concepts. A deeper vision could be found in another books about this subject, so in my oppinion this book could be a good starting point, not recomended for advanced IT product managers.
targeted for core products at large companies.......2004-05-22
I love this book: the concept of a "vector" for product
development is a terrific way to think about competition.
IMHO, this book is a must-read for all product managers,
product marketers and people involved in strategic decisions,
i.e. all senior executives.
That said, speaking as a five-time startup engineer, the advice
and examples in this book seem geared towards the core product
lines in larger companies, where you can credibly talk about
"two years from now" as opposed to wondering if you'll even be
in business, which is also the problem for new product lines at
large companies. The experience for the book comes from the
PRTM consulting firm, which was made famous for their work with
parallel product development at Intel. We hired them in the
early days at Inktomi, and found mixed success with their
process because we were terrified of immediate failure, and
they wanted to talk about version 3. Obviously, there's a
successful middle ground because Inktomi was a huge success in
the short term, but ultimately lost its strategic direction.
watch out cost to implement in ur office before do it.......2003-12-05
For example, author addressed the benefits to have a product platform strategy are focusing managemnet on key decision at the right time;enabling products to be deployed rapidly and consistently; encouraging a longer-term view of product strategy; leveraging significant operational efficiencies; helping management anticipate replacing a major product platform.
However, he may forget to remind readers that these require cost before enjoying the benefits, such as you need to hire a new tier of middle management if you company is too small to afford before; to establish the new channel capabilities to justify the investment on the platform bcz to access new markets; the IT system to calculate operation efficiencies such as engineering head count, material cost, and supply chain cost is also not cheap if you only have the option to use turn-key solution.....
It may be reasonable to equip product platform strategy only when benefits are greater than costs.
Book Description
Arms traders and sophisticated individual investors with the tools they need to play the markets successfully
Many traders believe that they must perform at least one trade every day, no matter what. However, as expert Price Headley clearly demonstrates in this groundbreaking book, not only is that assumption false, it can also be dangerous. He shows why focusing too narrowly on the daily ebb and flow of the markets minimizes a trader's chances for the big returns. He explains why maximum results are achieved by identifying the big market trends and riding them for all their worth. Headley explores the major market indicators-including the popular CBOE Volatility Index, Nasdaq 100, Rydex Mutual Fund Flows, and Equity Put/Call Ratio-and shows readers how to use them to identify the stocks that are about to take off. Emphasizing the aggressive use of options, he also empowers investors with stock selection techniques and options strategies that work in virtually every type of market.
Customer Reviews:
Good book but.......2007-06-27
The book contents is OK but it is not a thorough analysis of the option strategies and techniques.
It's ok........2007-06-27
Some of the nuggets are more like pebbles. The book seems more like an infomercial to sign up for his picks through his website/stock picking services. If you're looking for real tips to reading the market, I'd say check out some of J. Cramer's books. Cramer isn't perfect, but who is? At least Cramer tells it like he sees it. If Eliot Spitzer likes Cramer, then he can't be that bad!
Worth the cost - Psychology and Money Management are the keys to trading well.......2006-11-15
I haven't had any experience personally with the Bigtrends advisory services, but I can say that this book was worth my time to read. It's a bit heavy for me at first on all the systems used, but I found the final chapter on the psychology and money management alone to be well worth the cost of the book. That's where I always seem to lose my money in the market, by getting too high or too low (at the wrong times, of course!). It appears that his systems are designed to profit from these emotional fear and greed panics of the rest of the crowd.
Clearly this is not a book for beginners, but since I had already gotten my feet wet in trading over the last couple of years, I definitely have some ideas I look forward to applying from this book. The Acceleration Bands indicator (appears different than Bollinger bands) looks very promising to me, and I may also now try my hand at options (on a small scale at first)!
Horrible experience with Big Trends advisory service.......2005-08-15
After reading this book you might go check out their website and you'll see that they offer a few advisory services. Don't be fooled by the track records they email you, I lost thousands of dollars being SUCKERED into a non-refundable yearly membership fee to one of their services only to lose a lot more following their advisory emails. I quit following their stock pick recommendations about 3 months into the service with 9 more months left and watched their picks for almost a year. THEY DID SO HORRIBLE, I WOULD LITERALY DO BETTER PICKING STOCKS OUT OF A HAT, not to mention the horrible customer service. They did not respond my emails when I had questions or concerns about what is going on with these recommendations.
Very Bad Customer Service from BigTrends.......2004-12-31
i bot the book and later subscribed to its Bigtrends newsltter service and i had the worst experience ever in my whole trading career. I wrote to them several times for problems i had in its service and i received no replies. They charged me upfront for thousands of dollars and no refund despite cancellations after two weeks.
This is one newsletter that i would not recommend...trust me ! there is no customer service at all !!
Book Description
Unknown to most modern-day investors and traders who cherish
Reminiscences of a Stock Operator as one of the most important investment books ever written, the material first appeared in the 1920s as a series of articles and illustrations in the Saturday Evening Post. Now, for the first time ever, this beloved classic is being made available in its original, illustrated format.
You'll track the exploits of Jesse Livermore as he won and lost tens of millions of dollars playing the stock and commodities markets during the early 1900s. At one point, he made the then astronomical sum of 10 million dollars in just one month of trading!
Originally published as a fictionalized account, the
Illustrated Edition combines the Saturday Evening Post's memorable illustrations with Edwin LeFevre's timeless investment advice, recreating the look, feel, and message that was first published more than 80 years ago. Among the most compelling and enduring pieces ever written on trading, the new
Illustrated Edition brings this story to life like never before. Order your copy today.
Customer Reviews:
Horrible service from Amazon with sending this book.......2007-09-05
I ordered this book 2 months ago. After weeks in shipping they sent it to a random address in a different state, and offered a refund. I got my refund and ordered it again, it's now been exactly one month and the package is still stuck somewhere in a different state, with no shipping update for a week. And now they e-mailed me asking for a review.......sure I'd love to review it, if you ever get me the product I ordered two months ago! Thumbs down.
A TIMELESS TRUTH.......2007-07-26
Reminiscences of Stock Operator is a classical works that testifies that the psychological and technical aspects that moves the market has not changed even to this present day... The beauty of the fictional story based on the greatest of minds that traded in the market and made millions and lost fortunes speaks very vividly to us today from their wisdom and experience... I have found the book to be full of wisdom, education and guidance that the financial markets is not a game to be played on the hopes of getting rich for nothing...To be successful requires the greatest discipline on our ourselves..And in the game of speculation this book let us know that the financial markets owes us nothing and that we can't force our hands...
As valid today as ever.......2007-04-28
As I read this book I wondered if it was written recently, as most books written in the last couple decades seem to have the same info, including the 'newly discovered' psychology of trading. Save a ton of money and buy this book first. Then you may not want any of the others. It's well written, though the author's whole intent is to prove no one can 'beat' the market, which is a little discouraging. I mean, after all, I think I will. Everyone interested in trading should read this early in their career, if not first.
A must read.......2007-02-04
As useful in the mad 1920's and 30's as it is today! Every trader should read it... at least twice. If you're into Hedge funds, Private Equity or Asset Management, you should probably read it not less than 3 times - in between the lines!
Essential reading... a true classic.......2007-01-09
If you asked most top traders for a list of their top 5 books on trading or investment psychology, I'd think this one would feature in over 90% of them. It's definately one of the most entertaining.
This book, the thinly disguised biography of trading Jessie Livermore is a real page turner. I just couldn't put it down as I was fascinated by the tales and exploits he tells of his trading adventures from another era (although the content is every bit as relevant today). While it doesn't explain in any depth his trading mechanics (Wykoff's book does that, however, I wouldn't just pick up that book thinking I could copy his method without doing a substantial amount of research, testing and work, as did Livermore himself), it does give you insight into his trading philosophy and strategies. If you were to highlight the points relevant to trading psychology in this volume, you'd be highlighting almost every page.
If you enjoy this one, then make sure to get the other book on his life story (Jessie Livermore - The World's Greatest Trader) which is every bit as interesting - he was quite a character! (and vastly richer than I had thought from reading this book). That book outlines more of the personal side of his life than this one which is more focused on his trading advenutres. He certainly had a fascinating life, the kind of life most of us who begin trading hope it will provide. It's kind of sad that he died broke and alone, as I guess happens with many geniuses and artists.
Highly recommended. All the best with your trading.
Book Description
The classic source for the technical analysis discipline now brings readers up to date in techniques and technology
Now, in this second edition of the classic text, expert Thomas Dorsey shows, step-by-step, how to create, maintain, and interpret your own point and figure charts. He explains how you can use your findings to track and forecast market prices and develop an overall investment strategy. Perhaps most importantly, he helps you develop confidence in the market and take decisive action at the appropriate time, rather than reacting after the fact. Dorsey also highlights new developments in the field and incorporates the use of recently developed software to track any market using point and figure methods. Written for both new and experienced P & F chartists, this updated edition of a technical analysis classic brings point and figure charting into the Internet age.
Thomas J. Dorsey (Richmond, VA) is President of Dorsey, Wright & Associates, a registered investment advisory firm that uses point and figure charting as its main source of technical analysis.
Customer Reviews:
Point & Figure Charting for STOCK TRADERS ONLY.......2007-05-03
Thomas Dorsey does a great job at explaining (in the first 50 pages) how the Point & Figure Chart is created, as well as some basic 'forms' that the charts can take. I read some of the reviews of this book thinking that as a Futures/Commodities trader (early stage/beginner) I would learn alot about Point & Figure Charting for Futures/Commodities. I was wrong. There are no more than 3 pages in this book regarding Commodities, and only insofar as they are underlying indicators for stocks that rely on commodity prices. So, if you want to learn about Point and Figure Charting, this is an ok book. There may be others out there that are better, as that aspect of this book served its purpose for me....which is P&F Charting APPEARS to be an excellent methodology for Trend analysis (big picture) for Futures/Commodities. However, if you are a Stock Trader then this book may have much more relevance to you. Not a bad book, just not appropriate for Commodities/Futures Traders.
In Defense of the Presentation.......2006-10-23
I find it hard to accept the reviews I have read about this book having poor explanations of the P&F concept, or that they are available elsewhere. Mr. Dorsey's book is first rate. I read this book when it was first released, and I find myself using it as a reference tool quite often. Mr. Dorsey's explanation of the NYSE Bullish Percent chart and how to use it and the Relative Strength charts in conjuntion with your stock selection is as plainly presented as if you were having a conversation with the man.
When you consider that he also has weekly podcasts that help explain how the P&F charts are used, I consider Mr. Dorsey to be THE authority on the subject of Point&Figure charting and this book is an excellent source for learning how to start P&F analysis.
Technical Analysis De-Mystified - Not.......2005-10-18
The other review on this date (wentraub) is not a book review but some random thoughts on investing. The Dynamic Asset Level Investing model is not even in the book but a paid service from Dorsey's website!!!!
How can Dorsy be one of Wall Street's saviest minds when his is in Virginia?
PnF charting is only one of many tool available to a Technician.
Technical Analysis De-Mystified.......2005-10-18
Technical analysts are becoming an endangered species on Wall Street. Major firms have long favored a fundamental approach emphasizing a nuts and bolts approach to company revenues, use of capital, and innovation. Scores of fundamental analysts closely follow individual sectors of the economy, scour SEC filings, and comment on daily developments pertaining to individual companies. Meanwhile a smaller cadre of 'technicians' churn out charts, graphs, and statistics that follow the ebb and flow of investor capital. Recently two well known full service brokerage firms decimated their already small contingent of technical analysts and another firm let go their star technician.
Academic studies on the efficiency of the markets to digest news and quickly reset the market value of securities have long questioned the value of Wall Street analysts to forecast future prices. If news is unpredictable, by definition, and the prices of securities adjust immediately, what is the point of a forecast. These studies have been particularly harsh on technical analysis. Technical analysis may not have helped its cause with a coded language of triple tops, head and shoulders patterns, Fibonnaci retracements, etc. It all begins to sound more like the Occult than analysis. This book blows away a lot of the smoke.
Tom Dorsey has given us a straight forward (if somewhat breathless) introduction to his method of technical analysis. His X and O charts record trends of buying (demand) and selling (supply) in the market. It is this dynamic imbalance, he contends, that is the primary determinant of value in the marketplace. The tendency for these trends to repeat over time represents the psychology of investors to buy or sell at critical junctures. For Dorsey fundamental analysis is useful in determining what company stocks should be owned. Then it is the role of the technician to determine when to buy and sell. Fundamental analysis identifies good companies. Technical analysis identifies good stocks. Good companies do things well. Good stocks make investors money.
The value of Dorsey's work is to help investors find sectors of the economy and securities that may be due for a reversal of fortune after extended periods of under or out performance. The bottom line is that he has developed a useful toolkit for the investor. A look at his Dynamic Asset Level Investing model [12/2004 - not in this 2001 book] that recommends areas to allocate assets (small capitalization stocks, Latin America, natural resources, energy, etc.) seems prescient just about a year later. Using ETFs (exchange traded funds) to develop a portfolio based on Dorsey's model would have inevitably led investors to a chunk of the best returns available for the period. This book should certainly be read by all investors who want an introduction to technical analysis and a better understanding of one of Wall Street's savviest minds. You may not want to be on the other side of too many of Tom Dorsey's trades!
Bait for online service.......2005-06-25
The book is too wordy - in fact the same information is more concisely presented and available for free at DWA website. To follow the method described you need to become a paying member of DWA. A free 2 week trail is also available at the site. This allows you to findout that to really understand and apply this method you need to take several of the $150 classes that DWA also provides. Also, the online service is really geared towards stock brokers (investment advisors).
Use the online course - its faster, cheaper and better.
Amazon.com
Stock investing is a relatively recent phenomenon and the inventory of true classics is somewhat slim. When asked, people in the know will always list books by Benjamin Graham, Burton G. Malkiel's A Random Walk Down Wall Street, and Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher. You'll know you're getting really good advice if they also mention Reminiscences of a Stock Operator by Edwin Lefèvre.
Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations that Lefèvre records about investing, speculating, and the nature of the market itself. For example:
"It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon."
If you've ever spent weekends and nights puzzling over whether to buy, sell, or hold a position in whatever investment--be it stock, bonds, or pork bellies, you'll be glad that you read this book. Reminiscences of a Stock Operator is full of lessons that are as relevant today as they were in 1923 when the book was first published. Highly recommended. --Harry C. Edwards
Book Description
Critical Praise.. "In my interviews with over 30 of the best traders of our time, there were some questions that I raised in each conversation. One of these was: Are there any books that you found particularly valuable and would recommend to aspiring traders? By far, the most frequent response was Reminiscences of a Stock Operator-a book that was over 70 years old!" -from the Foreword by Jack Schwager Author of Market Wizards and The New Market Wizards "Although Reminiscences.was first published some 70 years ago, its take on crowd psychology and market timing is as timely as last summer's frenzy on the foreign exchange markets." -Worth magazine "The most entertaining book written on investing is Reminiscences of a Stock Operator, by Edwin Lefevre, first published in 1923." -The Seattle Times "The best book I've read is Reminiscences of a Stock Operator. I keep a supply for people who come to work for me." -Martin Zweig "After 20 years and many re-reads, Reminiscences is still one of my all-time favorites." -Kenneth L. Fisher Forbes First published in 1923, Reminiscences of a Stock Operator is the fictionalized biography of Jesse Livermore, one of the greatest speculators ever. Reminiscences remains the most widely read, highly recommended investment book ever written. Generations of investors have found that it has more to teach them about themselves and other investors than years of experience in the market. This is a timeless tale that will enrich the lives-and portfolios-of today's investors as it has those of generations past.
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What could I do? That wasn't an asinine tip. It was advice that came from the brother-in-law of the chairman of the board of directors. Dan was not only Alvin Marquand's closest friend but he had been kind and generous to me. He had shown his faith in me and confidence in my word. I couldn't do less than to thank him. And so my feelings again won over my judgment and I gave in. To subordinate my judgment to his desires was the undoing of me. Gratitude is something a decent man can't help feeling, but it is for a fellow to keep it from completely tying him up. The first thing I knew I not only had lost all my profit but I owed the firm one hundred and fifty thousand dollars besides. I felt pretty badly about it, but Dan told me not to worry.
Customer Reviews:
Classic stands test of time........2007-10-02
80 years old, yet still stands the test of time. It's about legendary trader Jesse Livermore and lessons can be learned by doing the good things Livermore suggests and avoiding the bad ones.
A classic - it belongs on every bookshelf.......2007-09-27
Even though this book was written nearly 100 years ago, the lessons contained within still apply today. You won't find specific trading systems, or investing rules in the book. You will find, however, an inside account of market manipulation and the thought processes of a great trader.
I especially liked the exposure on the operations of "bucket shops" - the early 20th century counterpart of some modern retail Forex brokers.
While there's little technical information, a beginning investor may not 'get' much of the material here - a good knowledge of markets and trading is required to follow some of the anecdotes.
Classic Stock Market Must Read.......2007-09-25
My title states it all. Read it. There's value in this book that you will realize as you spend more time analyzing the markets and market participants. It's an easy read that's designed like a story rather than finance textbook. Really good if you're into tape reading also. Are you a quant or programmer with no market experience? Read this and you'll learn a few things about why the markets don't always behave the way our models might predict.
A damn fine book about a humanity really.......2007-09-19
Jessie Livermore's book is supposed to be about trading. But in reality, reading about the case of Mr. Partridge and that bucket shop, one realizes that this is about human nature. Greed, fear, we've all heard it before, but here we see it happen before our eyes. When those bucket shop exchange owners basically take on Livermore, its because their greed got the best of them and now are scared that this "Boy Plunger" figured them out. How many of you, who've traded in highly speculative issues, be it options on Google or even forex, kinda thought there was some sort of fix in?
To those not familiar with markets, this is basically the first book you should read. It won't teach you how to trade or make a fortune, but it will show you the human side of speculating. Veteran traders will see the various episodes in this book and relate it to their own experience. One simply can't go wrong with this book, easy to read, and I dare say fun. It doesn't matter if it's the early part of the last century, where Livermore's adventures took place, or the early part of this one, (as he says in the book,) "speculation is as old as the hills.
Excellent.......2007-08-24
The principles of human and market behavior never change! A joy to read this book.
Book Description
Praise for THE NEW MARKET WIZARDS
"Jack Schwager simply writes the best books about trading I've ever read. These interviews always give me a lot to think about. If you like learning about traders and trading, you'll find that reading this book is time well spent." -Richard Dennis, President, The Dennis Trading Group, Inc.
"Jack Schwager's deep knowledge of the markets and his extensive network of personal contacts throughout the industry have set him apart as the definitive market chronicler of our age." -Ed Seykota
"Very interesting indeed!" -John Train, author of The Money Masters
"Successful trading demands longtime experience because it requires firsthand knowledge. If there is a shortcut to this requirement, however, it is in reading about the experiences of others. Jack Schwager's book provides that shortcut. If you find yourself sweating upon occasion as you read, then you're as close to the trading experience as you can get without actually doing it yourself." -Robert R. Prechter, Jr., editor, The Elliott Wave Theorist
THE NEW MARKET WIZARDS
Some traders distinguish themselves from the herd. These supertraders make millions of dollars-sometimes in hours-and consistently outperform their peers.
As he did in his acclaimed national bestseller, Market Wizards, Jack Schwager interviews a host of these supertraders, spectacular winners whose success occurs across a spectrum of financial markets. These traders use different methods, but they all share an edge. How do they do it? What separates them from the others? What can they teach the average trader or investor?
In The New Market Wizards, these wildly successful traders relate the financial strategies that have rocketed them to success, as well as the embarrassing losses that have proven them all too human.
Meet the Wizards of Wall Street:
* Stan Druckenmiller, who, as manager of the Soros Quantum Fund, realized an average annual return of more than 38 percent on assets ranging between $2.0 and $3.5 billion
* William Eckhardt, a mathematician who, in collaboration with trader Richard Dennis, selected and trained the now-legendary circle known as the Turtles
* Bill Lipschutz, a former architect who, for eight years, was Salomon Brothers' largest and most successful currency trader
* Blair Hull, a one-time blackjack player who began an options trading company with
Asking the questions that readers with an interest in the financial markets would love to pose to the financial superstars, and filled with candid appraisals, The New Market Wizards takes its place as a classic.
Customer Reviews:
No secrets.......2007-10-01
Jack does a nice job as usual. Have a plan, stick to it, and don't let your emotions control your trading.
Everyone loses in the beginning, so you need cash to keep going.
Great read..........2007-09-22
I am far from a great trader and definitely in the category of novice. My brother recommended I read this book and its predecessor. The knowledge I picked up from both books coupled with a lot of reading and research spawned by what I found in the book have allowed me to generate decent returns on investments that have been stagnant for about a year. Within a three week time period I was able to go from being in the hole 6% in unrealized gains to being up over 10% in unrealized gains. I have since realized those gains and re-invested them looking to turn some more profit.
So I would say this is definitely a worthwile read for those interested in finding out how the big investors/traders became who they are and trying to come up with your own methodology for not falling into some of the pitfalls the market holds for the novice investor.
Mandatory Reading, Excellent.......2007-03-07
This book is excellent, mandatory reading for all aspiring traders and interested fans of the financial markets. A joy to read, covering everything from the nuts and bolts to the philosophy/psychology of the supertrader.
buy this right now dont waste time .......2007-01-12
thats all there is too say just buy it now and dont think twice
Boo Hiss...Horrible.......2006-11-25
This is one of the worst books on investing I've ever read. I read his first one from the library and loved it. This one stinks to high heaven. Grammatical errors, misspelled words are really tough to get past. I can see one or two, but...!!!!!
On top of that, the content is empty and very disappointing. If you're looking for a book similar to the first, forget it. This one does not measure up at all. If I could get my money back, I would in a second.
Book Description
How to trade the markets by integrating Chaos Theory with market sentiment
In the first edition of Trading Chaos, seasoned trader and psychologist Bill Williams detailed the potential of Chaos Theory-which seeks to make the unpredictable understandable-in trading and it revolutionized financial decision-making. The Second Edition of Trading Chaos is a cutting edge book that combines trading psychology and Chaos Theory and its particular effect on the markets. By examining both of these facets in relation to the current market, readers will have the best of all possible worlds when trading.
Bill Williams, PhD, CTA (Solana Beach, CA), is President of Profitunity.com, a leader in the field of education for traders and investors. Justine Gregory-Williams (Solana Beach, CA) is President of the Profitunity Trading Group and a full-time trader.
Download Description
How to trade the markets by integrating Chaos Theory with market sentiment
In the first edition of Trading Chaos, seasoned trader and psychologist Bill Williams detailed the potential of Chaos Theory-which seeks to make the unpredictable understandable-in trading and it revolutionized financial decision-making. The Second Edition of Trading Chaos is a cutting edge book that combines trading psychology and Chaos Theory and its particular effect on the markets. By examining both of these facets in relation to the current market, readers will have the best of all possible worlds when trading.
Bill Williams, PhD, CTA (Solana Beach, CA), is President of Profitunity.com, a leader in the field of education for traders and investors. Justine Gregory-Williams (Solana Beach, CA) is President of the Profitunity Trading Group and a full-time trader.
Customer Reviews:
Great book - very intense.......2007-08-27
I've been looking for a book like this for a while. I first came across Bill Williams through the Metastock indicators and the Expert System. After loading an expert called "PS Fractal Trading System 2" I was amazed at the signals.
Having read through the book - I have the following quibble. There is a huge difference in the parameters of the alligator in what comes with Metastock (v9 and v10) and what the book gives. The book says the green line is 13 bar smoothed average offset 8 bars into future. Likewise the red is 8 bar offset 5, and the green is 5 bar offset 3. However this does not correspond to the Metastock indicator he provides. For the curious, the Metastock ones referred to in page 206 of book have the following values: Green: 9 period EMA of Median offset 3. Red: 15 period offset 5, and Blue 25 period offset 8
It is the right book at the right time.......2007-07-06
This book has methods to get buy signals before the lows and sell signals before the highs. This will help one sell into strength and buy into weakness. It has helped me get my positions off. I have recommended this book to all of my trading friends. It will take careful study to fully understand it. This book is original, all mechanical and all objective. The three wise men make up very powerful trading tools.
Good book.......2007-01-09
Another great book from Bill Williams!
Interesting for trend trading and for good living.
Bill Williams is the REAL DEAL.......2006-12-18
I am a BIG believer in Bill Williams and his body of work.
I have personally met with Bill, taken his home study course and even attended a private tutorial. Bill is the real deal. He is a *highly* profitable trader and Bill trades EXACTLY like he describes in his books (simplified over time, so Trading Chaos, 2nd Ed. is the LATEST and most refined method).
If you just want to trade with no other background information, Buy Trading Chaos, 2nd Edition (not this book) and start with chapter seven. When you get to the end of the book, you'll say, "That's it?!?! Than can't be it!" That's what I said. I then went on to take his home study course (13 weeks) and then went to a private tutorial. 95% of the methodology is IN THE BOOK! The more advanced stuff is for those who are scaling into positions and want more aggressive money management techniques.
Who am I to say this works? I started trading Bill's techniques from scratch. In LESS than 6 months I was up 95% in a medium sized account. I found some like-minded investors and we started our own Hedge Fund (more specifically, a commodity pool). I called Bill personally and he spoke with me at length about how I should flow into and out of my positions, etc. He went far above and beyond the call of duty. I cannot speak to how well my Pool is doing (not legal to disclose - considered solicitation of investors), so I cannot give figures of returns for the Pool.
Buy Trading Chaos 2nd Edition and then buy "New Trading Dim mentions" (his second book) and read chapters 9 - 11. Those chapters will give you more ideas of the SCOPE of just what is possible when you simplify your trading and align it with natural market tendencies (chaos principles).
Good luck and Good Trading!
-- Q
The truth about how to become a successful trader.......2006-09-01
I purchased this book because I was trading with a method that used the awesome oscillator. I figured I should know something about the person who created it. I got much more than that. The book helped me to quit focusing on trading techniques and to start looking at my own mental state for trading. Turning inward has allowed me build better confidence in myself and my method. That in turn allows me to trade with a mindset which successful traders have. The fact that the book also presents a very viable trading method is just an added bonus. This book and "Trading In The Zone" by Mark Douglas transformed my trading career.
Books:
- The Client (Limited Edition)
- The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets
- The Curious Incident of the Dog in the Night-Time
- The Devil in the White City: Murder, Magic, and Madness at the Fair That Changed America
- The Dreamkeepers: Successful Teachers of African American Children
- The Empty Chair
- The End of the World as We Know It: Scenes from a Life
- The Far Side of the World (Aubrey Maturin Series)
- The Good Husband of Zebra Drive (No. 1 Ladies' Detective Agency 8)
- The Gospel According to Judas by Benjamin Iscariot
Books Index
Books Home
Recommended Books
- Currency Derivatives: Pricing Theory, Exotic Options, and Hedging Applications
- Why Do They Act That Way
- The Beatles: Postcard Box
- The Successful Sales Manager's Guide to Business-to-Business Telephone Sales
- Starting an Online Business For Dummies, 4th Edition
- White
- Treasure Lost at Sea: Diving to the World's Great Shipwrecks
- Auditing: CPA exam preparation
- The Matching Law: Papers in Psychology and Economics
- Inferno: The Longfellow Translation
General
| Popular Economics
| Business & Investing
| Subjects
| Books
Japanese Candlestick Charting Techniques, Second Edition
Beyond Candlesticks: New Japanese Charting Techniques Revealed (Wiley Finance)
Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude
Candlestick Charting Explained
Bollinger on Bollinger Bands
